Rio Tinto now offers $3.1bn for all of Turquoise Hill Resources











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(Boursier.com) — Rio Tinto don’t give up. A few days after seeing Turquoise Hill Resources to postpone its offer of 2.7 billion dollars, the Anglo-Australian mining giant raises its offer by 18% to 40 Canadian dollars per security, or 3.1 billion US dollars. Rio Tinto, which already owns 51% of the Canadian firm, wants to get its hands on the entire capital of Turquoise Hill Resources, which notably holds a majority stake in the huge Oyu copper and gold extraction project. Tolgoi in Mongolia. The Anglo-Australian giant is seeking to increase its exposure to so-called future raw materials, natural resources such as copper and nickel, which are essential for the energy transition. Rio’s previous bid was opposed by major Turquoise Hill shareholders, including activist investor Pentwater Capital Management.


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